Global Pressure Vessel Market Growing at 5.38% CAGR to 2021 Dominated by Steel Alloys Segment

May 12, 2016, 22:00 ET from ReportsnReports

PUNE, India, May 13, 2016 /PRNewswire/ --

The pressure vessel market is expected to reach $184.87 billion by 2021 with power generation capacity addition and change in energy trends being major reasons behind the boost in its demand and overall market growth.

Complete report on global pressure vessel market spread across 150 pages, profiling 12 companies and supported with 73 tables and 51 figures is now available at http://www.reportsnreports.com/reports/541889-pressure-vessel-market-by-end-user-industry-chemicals-oil-gas-power-others-by-type-boilers-nuclear-reactors-separators-others-by-material-steel-alloys-other-alloys-composites-by-region-asia-pacific-north-america-europe-the-middle-east-africa-and-south-america-global-forecast-to-2021.html .

The steel alloys segment within the pressure vessel market is estimated to be have the largest size in 2016. Steel alloys are considered as high strength steel and are extensively used in fabricating pressure vessels to hold high pressure gases/liquids. In addition, end-user industries are deploying pressure vessels for power generation and processing raw materials to produce the final product, primarily in the chemicals & petrochemicals industry.

Asia-Pacific is estimated to account for the largest market share, by value, in the pressure vessel market in 2016. It is one of the key markets for pressure vessel manufacturers and suppliers. In the Asian region, countries such as China and India are driving the market because of increasing investments in the energy sector, for enhancing power generating capacities, and investments in nuclear power plants. Additionally, the booming renewable sector and changing trends in energy demand have resulted in the increased demand for pressure vessels. All these factors are expected to boost the pressure vessel market in Asia-Pacific.  

The primary participants for the report have been categorized on the basis of company type, designation, and region. In Tier 1 (56%), Tier 2 (24%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (50%), Manager Level (31%) and others (19%) from various key organizations operating in the global pressure vessel market. The primary interviews were conducted worldwide covering regions such as The Middle East, South America, & Africa (45%), Asia-Pacific (24%), Europe (15%) and RoW (13%).

List of companies profiled in the report include Mitsubishi Heavy Industries, Ltd. (Japan), Babcock and Wilcox Enterprises, Inc. (U.S.), Doosan Heavy Industries & Construction (South Korea), Bharat Heavy Electricals Limited (India), Larsen & Toubro Limited (India), Dongfang Electric Machinery Co., Ltd. (China), General Electric (U.S.), Halvorsen (U.S.), IHI Corporation (Japan), Pressure Vessels India (India), Samuel Pressure Vessel Group (U.S.) and Westinghouse Electric Company LLC. (U.S.). Order a copy of Pressure Vessel Market by End-User Industry (Chemicals, Oil & Gas, Power, & Others), by Type (Boilers, Nuclear Reactors, Separators, & Others), by Material (Steel Alloys, Other Alloys, & Composites), & by Region (Asia-Pacific, North America, Europe, the Middle East & Africa, and South America) - Global Forecast to 2021 research report at http://www.reportsnreports.com/Purchase.aspx?name=541889 .

The report offers market estimations and projections till 2021, and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.

On a related note, another research on Offshore Support Vessel Market Global Forecast to 2020 says, growing demand for oil & gas is expected to drive the offshore support vessel market at a CAGR of 5.8% during the forecast period. Asia-Pacific is to lead the global offshore support vessel market in terms of growth rate. Deepwater offshore support vessels are expected to witness the highest growth in the market. In this research, the data have been collected through several primary and secondary sources. Companies like Bourbon SA, Farstad Shipping ASA, Seacor Marine LLC, Swire Group Ltd., Tidewater Inc., Gulfmark Offshore Inc., Havila Shipping ASA, Hornbeck Offshore and the Maersk Group have been profiled in this 195 pages research report available at http://www.reportsnreports.com/reports/259769-offshore-support-vessel-market-by-type-anchor-handling-towing-supply-vessel-platform-supply-vessels-multi-purpose-service-vessel-crew-boats-standby-rescue-vessels-others-by-geography-global-trends-forecast-to-2018.html .

Explore more reports on the Energy and Power market at http://www.reportsnreports.com/market-research/energy-and-power-supplies/ .

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